Agilysys (NASDAQ:AGYS) Upgraded by StockNews.com to “Buy”

Agilysys (NASDAQ:AGYS) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

Other equities research analysts have also issued research reports about the stock. Craig Hallum boosted their price target on shares of Agilysys from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $125.00 price target on shares of Agilysys in a research note on Monday. Oppenheimer boosted their price objective on Agilysys from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. William Blair began coverage on Agilysys in a research report on Monday, June 24th. They issued an “outperform” rating on the stock. Finally, BTIG Research boosted their price target on Agilysys from $95.00 to $118.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $124.00.

Agilysys Trading Up 0.5 %

AGYS traded up $0.56 on Tuesday, reaching $103.48. The stock had a trading volume of 156,965 shares, compared to its average volume of 215,110. The business’s 50-day moving average price is $107.51 and its two-hundred day moving average price is $95.23. Agilysys has a 12-month low of $63.78 and a 12-month high of $114.70. The company has a market cap of $2.89 billion, a P/E ratio of 32.75 and a beta of 0.83.

Agilysys (NASDAQ:AGYS) last released its quarterly earnings results on Monday, July 22nd. The software maker reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. The company had revenue of $63.50 million during the quarter, compared to analysts’ expectations of $64.52 million. Agilysys had a return on equity of 12.75% and a net margin of 40.32%. Agilysys’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.18 EPS. As a group, analysts predict that Agilysys will post 0.62 earnings per share for the current year.

Insider Activity

In other Agilysys news, CEO Ramesh Srinivasan sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $109.77, for a total value of $1,097,700.00. Following the transaction, the chief executive officer now owns 778,367 shares of the company’s stock, valued at $85,441,345.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Agilysys news, CEO Ramesh Srinivasan sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $109.77, for a total value of $1,097,700.00. Following the sale, the chief executive officer now owns 778,367 shares of the company’s stock, valued at $85,441,345.59. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Kyle C. Badger sold 249 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $102.03, for a total value of $25,405.47. Following the transaction, the senior vice president now owns 115,834 shares of the company’s stock, valued at $11,818,543.02. The disclosure for this sale can be found here. Insiders sold a total of 141,578 shares of company stock valued at $14,107,417 in the last 90 days. Company insiders own 23.60% of the company’s stock.

Hedge Funds Weigh In On Agilysys

Several institutional investors have recently bought and sold shares of the company. Truist Financial Corp boosted its stake in shares of Agilysys by 43.6% in the second quarter. Truist Financial Corp now owns 15,651 shares of the software maker’s stock valued at $1,630,000 after purchasing an additional 4,752 shares during the period. Driehaus Capital Management LLC grew its stake in shares of Agilysys by 49.0% in the second quarter. Driehaus Capital Management LLC now owns 218,292 shares of the software maker’s stock worth $22,733,000 after acquiring an additional 71,809 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Agilysys during the second quarter worth $1,497,000. The Manufacturers Life Insurance Company boosted its holdings in Agilysys by 9.5% in the second quarter. The Manufacturers Life Insurance Company now owns 13,505 shares of the software maker’s stock valued at $1,406,000 after purchasing an additional 1,174 shares during the period. Finally, Deerfield Management Company L.P. Series C increased its holdings in Agilysys by 9.4% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 8,752 shares of the software maker’s stock worth $911,000 after purchasing an additional 753 shares during the period. 88.00% of the stock is owned by institutional investors and hedge funds.

About Agilysys

Agilysys, Inc operates as a developer and marketer of software-enabled solutions and services to the hospitality industry in North America, Europe, the Asia-Pacific, and India. It offers software solutions fully integrated with third party hardware and operating systems; cloud applications, support, and maintenance; subscription and maintenance; and professional services.